Saturday, 21 December, 2024

RBI Innovation Hub Develops Unified Lending Interface Using Data from Rapido, Swiggy, and Amul

The Reserve Bank Innovation Hub (RBIH) is developing a Unified Lending Interface (ULI) to streamline credit access by utilizing data from platforms like Rapido, Swiggy, and Amul. By integrating financial and non-financial data, including land records, ULI aims to expedite loan approvals, particularly for small businesses and farmers. Seven states have already joined the initiative, enhancing the platform's reach.